The future of another British tech star could be decided today as predators circle.
Private equity group ICG has been given until 5pm today to make a firm offer for data analytics firm GlobalData – though the deadline could be extended.
The London-based group, valued at £1.4billion, is one of a host of British technology stocks currently targeted by potential buyers with microchip specialist Alphawave this week agreeing a £1.8billion takeover by US giant Qualcomm.
The takeover activity – at a time when various firms are leaving London for other stock markets and few are looking to join through initial public offerings – has raised fears over the City’s status as a global financial hub.
Today’s bid deadline is quickly followed by another on Friday for Edinburgh-based healthcare tech group Craneware, which is being targeted by Bain Capital, another American private equity group.
Meanwhile, US payments firm Corpay is circling British fintech Alpha Group. And Northern Ireland software group FD Technologies has accepted a £570million offer from Boston-based private equity giant TA Associates.
Bids in: Private equity group ICG has been given until 5pm today to make an offer for data analytics firm GlobalData, though the deadline could be extended
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